As Markel drives buy a local restaurant, he realizes that he hasn’t eaten all day and is
famished. He stops at the restaurant, and without referring to the menu, orders a burger
because that’s what he typically buys at this particular restaurant. This scenario suggests
that:
a. Markel’s hunger caused him to experience cognitive dissonance.
b. all purchase decisions go through the six steps of the consumer decision making
process.
c. Markel would have probably made a different food choice had he not been famished.
d. some people may skip steps in the consumer decision making process, particularly
for high-involvement decisions.
e. low-involvement decisions may sometimes enable consumers to skip steps in the
consumer decision making process.
Which one of the following statements about marketing is false?
a. Mobile marketing refers to marketing messages transmitted via wireless technology.
b. Effective relationship marketing relies heavily on data and computer databases.
c. The lifetime value of a customer consists of the revenues and intangible benefits
derived from the firm’s relationship with the customer.
d. Buzz marketing involves using airplanes to “buzz” outdoor events with flying
banners.
e. Interactive marketing gives more control to the customer.
Which of the following components of the marketing environment consists of factors
that influence consumer buying power and marketing strategies?
a. Competitive environment
b. Cultural environment
c. Economic environment
d. Regulatory environment
Asmeret works as a hotel manager for a popular family resort and casino in Atlantic
City, New Jersey. During the summer, hotel managers aim for an occupancy rate of at
least 85% to ensure that overhead costs are covered. The resort is known for its quality
services; guests generally return an average of three times during the summer and use
their rewards and loyalty cards during their stays. On this particular day, Asmeret is
quite stressed because the occupancy rate is only 65%. If the hotel fails to sell at least
an additional 20% of the available rooms, she might be in some trouble.
Required:
Which aspect of a service is best illustrated in the scenario?
a. Services are perishable.
b. Service standards show wide variation.
c. Services are inseparable from service providers.
d. Companies cannot easily standardize the services they provide.
e. Buyers play an important role in the creation and distribution of services.
Virtually all colleges and universities have alumni associations that publish magazines,
hold reunions, and try to raise funds. These activities constitute organization marketing.
a. True
b. False
A person who manages external engagement with customers in social media channels is
called a social media developer.
a. True
b. False
Big data is information that originates in unprecedented volume and speed from the
world around us.
a. True
b. False
What is the term that refers to the use of marketing intelligence data to model scenarios
and create forecasts?
a. Exploratory research
b. Big data
c. Predictive analytics
d. Marketing intelligence
Which of the following sales promotion techniques produces a higher response rate
than most other promotions?
a. Sweepstakes
b. Rebates
c. Sampling
d. Coupons
Common carriers operate under much looser regulations than contract carriers.
a. True
b. False
Intangible tasks that satisfy the needs of consumer and business users are called _____.
a. marketing mix
b. specialty products
c. product
d. services
e. convenience products
f. impulse goods
g. installations
h. wholesalers
i. business-to-business (B2B)
j. supplies
k. emergency goods
l. shopping products
m. component parts and materials
n. staples
o. product mix
p. product line
q. line extension
r. total quality management
s. product lifecycle
t. benchmarking
Marketing cost analysis is most useful when it provides information linked to other
forms of marketing research.
a. True
b. False
Specialty products are:
a. products marketed to consumers who may not yet recognize a need for them.
b. products with unique characteristics that cause buyers to prize those brands.
c. products bought in response to unexpected and urgent needs.
d. products purchased on the spur of the moment.
Production and marketing of goods and services are two basic functions that create
utility.
a. True
b. False
To create strong, long-lasting relationships with customers, salespeople must
demonstrate high ethical standards and communicate honestly at all times.
a. True
b. False
A(n) _____ is a price reduction offered to a consumer or a business buyer in return for
prompt payment of a bill.
a. competitive bidding
b. penetration pricing strategy
c. list price
d. trade discount
e. price flexibility
f. promotional pricing
g. loss leader
h. cannibalization
i. bundle pricing
j. odd pricing
k. transfer price
l. profit center
m. skimming pricing strategy
n. competitive pricing strategy
o. pricing policy
p. market price
q. noncumulative quantity discount
r. step out
s. bot
t. cash discount
The business philosophy incorporating the marketing concept that emphasizes first
determining unmet consumer needs and then designing a system for satisfying them is
known as:
a. customer persuasion.
b. consumer orientation.
c. aggressive marketing.
d. sales orientation.
An undifferentiated marketing strategy:
a. involves developing different marketing mixes for different segments.
b. benefits from the control and efficiency of short production runs.
c. is also known as a concentrated marketing strategy.
d. is efficient from a production point of view.
Tide detergent is available in a variety of formulations but Procter and Gamble should
be concerned that any addition to the Tide detergent product line could cannibalize sales
of existing products.
a. True
b. False
The _____ is a major player in the international legal environment, which lends foreign
exchange to nations that require it to conduct international trade.
a. Collective Security Treaty Organization (CSTO)
b. International Monetary Fund (IMF)
c. International Monetary Fund (IMF)
d. World Trade Organization (WTO)
A negative cash discount is used by a seller to:
a. reduce prices on a one-time-only basis.
b. improve its liquidity position and cut collection expenses.
c. return the costs incurred by channel members in performing marketing functions.
d. reduce prices in an attempt to integrate promotional strategies within distribution
channels.
A(n) _____ is a nonprobability sample divided to maintain the proportion of certain
characteristics among different segments or groups seen in the population as a whole.
a. big data
b. exploratory research
c. secondary data
d. primary data
e. sampling
f. hypothesis
g. simple random sample
h. interpretative research
i. focus group
j. marketing decision support system
k. key performance indicator
l. predictive analytics
m. metrics
n. marketing research
o. quota sample
p. test marketing
q. cluster sample
r. data mining
s. convenience sample
t. controlled experiment
Comcast’s NBC division acquired Universal Studios and the highest executive who
approved this acquisition was most likely Comcast’s CEO. This decision is the direct
result of _____ planning process at Comcast.
a. tactical
b. strategic
c. operational
d. technological
In her role as sales manager, Julie tells her team to always behave ethically on the job.
However, Barbara sees Julie talk a customer into buying an unneeded product just
because the sale will fulfill her quarterly quota. If Julie really wants to create a culture
that encourages ethical behavior, she must:
a. Lead by example
b. Reduce quotas
c. Increase commissions
d. Tell her sales team to avoid unethical decision making
e. Better understand what products her customers need
There are many tools available to a savvy marketer who uses geographic segmentation,
including national population data published by the U.S. government. This statistical
data is classified as core based, metropolitan, micropolitan, primary metropolitan, and
consolidated metropolitan. Select the statement below that best reflects population data
published by the federal government.
a. Most of the U.S. population lives in urban environments, which is also true
worldwide.
b. Most of the U.S. population is evenly distributed over the land surface.
c. Most of the U.S. population lives in suburban environments, which is also true
worldwide.
d. Statistical data about population began to be collected by the federal government in
response to concerns about overpopulation and damage to the environment.
e. Statistical data about population began to be collected by the federal government in
response to the mass migration of citizens following Hurricane Katrina.
Manufacturers pay a handling fee to retailers to help consumers redeem coupons at their
outlets.
a. True
b. False
Attitudes of a person toward some object or idea are highly resistant to change.
a. True
b. False
Because of a variety of cultural, geographic, regulatory, and social issues, international
marketing can pose unique challenges to the marketer. Many of these challenges can be
mitigated by an effective internationally oriented marketing research effort.
International marketing research can help a company____________________.
a. avoid product formulation errors
b. develop the most effective logistics systems
c. eliminate product manufacturing inefficiencies
d. guarantee the success of its marketing strategies
e. improve a company’s labor relations in foreign markets
Negotiated pricing policies seek to eliminate the economic waste that would result from
obtaining and processing bids for relatively minor purchases.
a. True
b. False
Most of today’s salespeople are limited to performing tasks in a single category.
a. True
b. False
The Asian American subculture consists of numerous ethnic groups, each of which
brings its own language, religion, and values to the marketplace.
a. True
b. False